BitKingdom Review – Is This A Good Opportunity Or Big Scam?
BitKingdom has been getting a lot of attention on the web lately.
Because there is so much hype, a lot of network marketers are trying to sell this opportunity all over the place, including all over social media.
I want to let you all know that I am NOT in any way promoting or selling BitKingdom.
I have simply gathered for you all the facts in this BitKingdom Review in order for you to make a proper decision about it.
So, is it true? Is BitKingdom a scam?
Can it really help you build an online empire?
Let’s carry on with the review.
What Is BitKingdom?
In the case of BitKingdom, we’re met with an official website that lacks any information at all in regards to who owns or runs the company. While this might not seem like a dire issue right off the bat, it actually dose pose for a pretty serious thing.
With any MLM opportunity, you’re expected to hand over some amount of cash in order to get things started. That’s perfectly fine and dandy, but if you’re investing your own money, you deserve to have the right to easily know just who and where that money is going to.
The fact that BitKingdom is withholding this information does lead us to believe that the company doesn’t want this info easily available, but then it begs the question as to why they’re not mentioning it. Is there something that they’re trying to hold back? Something going on in the company that they don’t want someone easily attached to?
When looking at the domain name for the website, we can see that it was registered on August 14th of 2015. Unfortunately, because the domain name was registered under a private state, we are unable to determine who or where it was registered.
This is a common theme we see when MLM companies are trying to cover their tracks as much as possible, so it’s not a great sign at all to see so much information being hidden in the case of BitKingdom.
If we take a closer look throughout the website, we are able to see that there are numerous YouTube videos that are featured here. Looking even closer, it is revealed that these videos are uploaded to an account by the name of Arsyan Ismail.
After researching Ismail’s name online, it becomes apparent that his LinkedIn profile shows that he is located somewhere in Kuala Lumpur, Malaysia.
Looking more closely at the traffic that the BitKingdom website is receiving, we can determine that about 39.6% of all the traffic is coming directly out of Malaysia. Additionally, another 20% of the traffic is originating out of Vietnam. Thanks to these readings, we can make a pretty safe assumption that BitKingdom is being run out of Malaysia.
Based on what we were able to find after conducting our research, it would appear that BitKingdom is the first MLM opportunity that Ismail has launched.
So, just how does his first attempt work?
What Are The Products For Bit Kingdom?
In continuing with the less than stellar information, we can see that BitKingdom doesn’t have any sort of product line set in place. While withholding information about the people behind the company is certainly bad, this is far more worrisome.
You see, without a product line, BitKingdom doesn’t have any way to make money through that of retail sales. With no money coming in from retail sales, the only way for cash to come in is from that of investments that are being made by the company’s affiliates.
That poses for a big issue for one main reason.
When it comes time for BitKingdom to pay out ROIs and commissions, the only money they’ll have available is what affiliates have invested into the company.
Using investments from new affiliates to pay off existing affiliates creates for a Ponzi scheme, and from what we’ve seen so far, we wouldn’t be surprised at all if that’s what’s going on here with BitKingdom.
What Is The Compensation Plan For Bit Kingdom?
In regards to making money as an affiliate for BitKingdom, the company promises an ROI of 120% after just 20 days from when you make your investment on bitcoin.
BitKingdom does place a cap on the amount of bitcoin an affiliate can have at a single time, and that is set to 20 BTC – currently a dollar amount of $11,414 USD.
Along with earning a return on investments, affiliates can also earn cash through that of residual commissions.
These commissions are organized and structured through that of a binary system, and the different positions that are open are filled through the acts of both direct and indirect recruitment.
Investments from both sides of a binary team are tracked when working out these commissions, and affiliates can stand to earn as much as a 10% match for their downline and other side of the binary structure.
Basically, the more people you have in your downline, the higher percentage of a matching commission that you can earn.
What’s Does It Cost To Join Bit Kingdom?
In order to join BitKingdom, the membership itself is actually free. However, if you would like to participate in the side of the company that operates in the MLM realm, you’ll need to make a minimum investment of 0.1 BTC.
If you’d like to earn more money, you’ll need to invest into more bitcoin.
Is Bit Kingdom A Scam?
Have you heard from a friend that Bit Kingdom is a scam?
Based on this review, it might be hard to tell.
What exactly is the truth about Bit Kingdom – is it a scam or legit?
Good news – Bit Kingdom is not really a scam.
But, be sure to take a look at the conclusion, because there are some things you should be aware of.
This is how you will build a successful in your business.
Let me help you make more money.
Bit Kingdom Review Conclusion
So, what are we looking at with BitKingdom? To quickly summarize things up, here’s an official statement that we found on the company’s website –
” On BitKingdom, whenever you provide help to someone today you have the CROWD GUARANTEE that you can rely on them whenever you need financial help.”
Basically, we’re looking at nothing more than a “send help, get help” Ponzi scheme.
Affiliates are told to invest money into the company, and they are promised an ROI of 120% within 20 days.
Additionally, affiliates can also earn cash through a residual commission system that the company handles with a binary structure.
With no product line or anything like that to speak of, BitKingdom does not have any outside money coming in from retail sales. With the only cash coming in from investors, that’s all that BitKingdom has available to pay out the ROIs and commissions that they owe.
Translation? BitKingdom is operating as a classic Ponzi scheme.
As with all opportunities of this nature, the company will quickly cease to exist once recruitment levels die off. When this happens, the company’s main source of income will quickly dwindle down to nothing, and only Ismail and very early investors will earn any money.
For the majority of folks that have cash invested, they will unfortunately end up losing out on this deal.
And, to make matters even worse, recovery of funds will be nearly impossible once the collapse happens because of the use of bitcoins.
Sounds like a pretty sweet deal, huh?
I sure hope that you have found my Bit Kingdom review helpful for you.
Some other reviews have been pretty scant on details, and I wanted my Bit Kingdom review to have all the information for you.
If you decide to carry forward with Bit Kingdom, make sure you make the most out of it and learn how to market yourself online.
Click to get my free training that shows you how.